Question 19D Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 D Chapter 8 of +2- Part

Question 19D Chapter 8 of +2 Part-1 – USHA

Free Accounting book Solution - Class 11 and Class 12

19 D. C limited invited applications for 6,000 shares of 100 each payables as follows. On application 30 On allotment 20 On first and last demand 50 All the shares were applied for and allotted. One shareholder holding 200 share paid the whole of the amount due along with allotment. Another shareholder did not pay the allotment money on his 300 share but which he paid with the first and the past last evil. Directors have decided to charge and allow interest, as the case may be, on calls in arrears and call in advance respectively according to the provision of Table F, There is a gap between allotment and call money of two months. Journalise the transactions.

The solution of Question 19D Chapter 8 of +2 Part-1 – USHA: –

Journal
Date   Particulars
L.F. Debit Credit
a) Bank A/c Dr.   1,80,000  
  To Share Application A/c       1,80,000
  (Being application money received on)        
           
b) Share Application A/c Dr.   1,80,000  
  To Share capital A/c       1,80,000
  (Being application money transferred to Share cap. A/c)        
           
c) Share Allotment A/c Dr.   1,20,000  
  To Share capital A/c       1,20,000
  (Being allotment money due on 7,000 share @ Rs.25 each )        
           
d) Bank A/c Dr.   1,24,000  
  Calls in arrears (300 X 20) Dr.   6,000  
  To Share allotment A/c       1,40,000
  To Calls in advance A/c       10,000
  (Being allotment money real)        
           
e) Share first & final Call A/c Dr.   3,00,000  
  To Share capital A/c       3,00,000
  (Being final call due )        
           
f) Bank A/c Dr.   2,96,000  
  Calls in advance A/c Dr.   10,000  
  To Share first & final Call A/c       3,00,000
  To call in advance       6,000
  (Being call money received)        
           
g) Interest on Call in advance A/c Dr.   200  
  To Bank A/c       200
  (Being amt. paid call in advance )        
           
h) Bank A/c Dr.   100  
  To Interest on Call in arrears A/c       100
  (Being amt. received call in advance )        
         

This is all about the Question 19D Chapter 8 of +2 Part-1 – USHA. You can check out the following article to better understand:

Under Subscription and oversubscription of shares

You Can also read all above articles in Hindi on our Hindi Website

Under Subscription and oversubscription of shares – In Hindi

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Also, Check out the solved question of all Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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2 Book 1 min - Question 19D Chapter 8 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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